TULSA, Okla., Aug. 15, 2014 (GLOBE NEWSWIRE) -- White Cliffs Pipeline, L.L.C. ("WCPL") a partially owned subsidiary of Rose Rock Midstream (NYSE:RRMS), is considering a new pipeline from the Denver-Julesburg Basin ("DJ Basin") to the Cushing, OK hub. This new pipeline would possibly have multiple origin points in the DJ Basin and handle multiple grades of crude oil. WCPL hereby announces a non-binding open season that will provide an opportunity for shippers to express their interest in making a long-term commitment toward further expansion of the WCPL system. This non-binding open season affords all prospective shippers an opportunity to quantify their interest in a new pipeline and to indicate a preference for origin point.
Open Season Process
Prospective shippers that desire to receive a copy of the non-binding "Expressions of Interest" form should contact Scott Sitter, Director of Business Development, at 720-390-8697, or at ssitter@semgroupcorp.com.
The open season will begin today and close at 5:00 P.M. CDT on September 5, 2014. During this time interested parties are encouraged to contact the representative noted above for further information concerning any questions.
About White Cliffs Pipeline
White Cliffs Pipeline®, L.L.C. owns two 12-inch common carrier pipelines that carry crude oil 526-miles, originating in Platteville, CO, northeast of Denver, and terminating at Rose Rock Midstream's storage facility in Cushing, OK. Currently, White Cliffs Pipeline is the only pipeline that directly moves crude oil out of the DJ Basin to the Cushing market and ultimately to refiners in the Mid-Continent area. White Cliffs Pipeline is operated and partially owned by Rose Rock Midstream, L.P. Partial ownership is also held by Samedan Pipe Line Corporation ("Noble Energy"); Anadarko Wattenberg Company, LLC, a subsidiary of Western Gas Partners, LP ("AWC"); and Plains Pipeline, L.P.
About Rose Rock Midstream
Rose Rock Midstream®, L.P. (NYSE:RRMS) is a growth-oriented Delaware limited partnership formed by SemGroup® Corporation (NYSE:SEMG) to own, operate, develop and acquire a diversified portfolio of midstream energy assets. Headquartered in Tulsa, OK, Rose Rock Midstream provides crude oil gathering, transportation, storage and marketing services with the majority of its assets strategically located in or connected to the Cushing, Oklahoma crude oil marketing hub.
Forward-Looking Statements
Certain matters contained in this Press Release include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995.
All statements, other than statements of historical fact, included in this Press Release including the timing and capacity of the Expansion Project, management's plans and objectives for the Expansion Project, business prospects, outcome of regulatory proceedings, market conditions and other matters, may constitute forward-looking statements. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot assure you that these expectations will prove to be correct. These forward-looking statements are subject to certain known and unknown risks and uncertainties, as well as assumptions that could cause actual results to differ materially from those reflected in these forward-looking statements. Factors that might cause actual results to differ include, but are not limited to, regulatory approvals; environmental risks; changes in demand for crude oil; loss of market share and industry competition; potential delays and cost overruns; the risk of finalizing the T&D Agreements; the ability to access sufficient capital from internal and external sources; as well as other risk factors discussed from time to time in each of our documents and reports filed with the SEC.
Readers are cautioned not to place undue reliance on any forward-looking statements contained in this Press Release, which reflect management's opinions only as of the date hereof. Except as required by law, we undertake no obligation to revise or publicly release the results of any revision to any forward-looking statements.